U.S. Hotel Project Development Pipeline Reaches All-Time High
Skift Take
The Q4 2024 Global Hotel Construction Pipeline Trend Report shows a record-high global hotel construction pipeline, led by the U.S. and China, and forecasts continued growth through 2026.
The DJIA was up 71 points, Nasdaq and the S&P 500 were both up 15 points, and the 10-year treasury yield was down .01 to under 4.54%. Lodging stocks were mixed. TNL traded up to a new high.
Travel + Leisure reported a 4Q beat and gave in-line guidance for 2025. They upped their dividend by 12% and bought back 1.4 million shares for $70 million. That is the same dollar amount they spent in 2Q and 3Q of 2024.
Truist upped their price target on Wyndham Hotels to $122 from $105. Baird lowered Hyatt’s price target to $156 from $158. Wells Fargo lowered Marriott’s price target to $277 from $285, and Susquehanna upped its price target on Airbnb to $200 from $160.
The Hotel Celare, developed by Crawford Hoying and the Shaner Hotel Group, is now open in Cincinnati, Ohio. The 171-room property, which cost more than $65 million to complete, is the latest addition to the Tribute Portfolio by Marriott. T
